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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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EUR/USD, EUR/GBP and GBP/USD side-lined amid Trump 25% tariff plan

​​​EUR/USD, EUR/GBP and GBP/USD side-lined amid Trump 25% Mexico and Canadian goods 25% tariff plan.

Forex Source: Adobe images
Forex Shares EUR/USD GBP/USD EUR/GBP Pound sterling

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:

​​​EUR/USD range trades

EUR/USD topped out at Monday's $1.0533 high with Thursday's low at $1.0372 remaining in sight.

​Were the $1.0533 high to be overcome on a daily chart closing basis, our medium-term outlook would become bullish, though.

​​​EUR/USD chart Source: TradingView.com
​​​EUR/USD chart Source: TradingView.com

​EUR/GBP tries to stem decline

EUR/GBP's tumble from last week's £0.8473 high, made marginally below the 24 June 2024 £0.8478 high, has taken it to the 26 November high at £0.8364 before short-term stabilising as expected.

​Immediate resistance lies at the 19 November high at £0.8375. Further resistance is seen along the 200-day simple moving average (SMA) at £0.8413.

EUR/GBP chart Source: TradingView.com
EUR/GBP chart Source: TradingView.com

​GBP/USD side-lined

​GBP/USD so far remains above its upper downtrend channel line at $1.2363. It may act as support once more, as it did on Wednesday.

​The 55-day SMA at $1.2518 is still seen as potential resistance with last week's high at $1.2524.

​A rise above the 7 January high at $1.2576 would make us change our medium-term outlook to a bullish one.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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